“People know that prices are too high and we have to do something, and this was one of the obvious culprits,” said Minnesota Democratic Sen. Amy Klobuchar.
The Ocean Shipping Reform Act passed the Senate unanimously via voice vote and garnered bipartisan House support. It empowers the Federal Maritime Commission to investigate late fees charged by carriers while prohibiting ocean carriers and marine terminals from refusing to fill available cargo space.
“These carriers made $190 billion in profit in 2021, seven times higher than the year before,” Biden said. “The cost got passed on, as you might guess, directly to consumers, sticking it to American families and businesses because they could.” For the first time since 1994, the Federal Reserve raised rates by three-quarters of a percentage point Wednesday. by three-quarters of a point, the largest bump since 1994, after data released last week showed U.S. inflation rose in May to a four-decade high of 8.6%.
Klobuchar, who attended the law signing at the White House, said U.S. exporters saw their prices to access shipping containers increase by at least four times during the past two years of the pandemic.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What Joe Biden has previously said about Saudi Arabia as visit confirmedThe visit, set to take place between July 13 and 16, could mark a shift in relations between the two nations.
Weiterlesen »
President Biden eyes ban on ‘ gay conversion therapy’ funding with order marking Pride MonthLGBTQ youth who have been subjected to or threatened with conversion therapy practices were more than twice as likely to report attempting suicide within the past year as those who did not.
Weiterlesen »
Hillary Clinton gives advice on how Joe Biden can turn things aroundWhat democracies need to succeed is 'leaders who endeavor to bring out the best in us,' Hillary Clinton said in a new interview.
Weiterlesen »
Exxon Mobil to President Biden: we’re investing more than any other oil companyWhile the push and pull between the oil and gas industry and Washington D.C. is nothing...
Weiterlesen »
Biden signs new shipping law he says can cut consumer costsPresident Joe Biden signed legislation Thursday meant to lower the cost of shipping goods across oceans.
Weiterlesen »